Composition levy framework amended, substituting rule 7 table to redefine eligible categories and turnover-based tax rates. The amendment substitutes the Table in rule 7 of the Central Goods and Services Tax Rules, 2017 to revise the composition levy framework by enumerating categories of registered persons (manufacturers with specified exclusions; suppliers under clause (b) of paragraph 6 of Schedule II; other suppliers eligible under section 10(1) and (2); and persons opting under section 10(2A)) and prescribing discrete turnover-linked tax rates for each category, effective from 1 April 2020.
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Composition levy framework amended, substituting rule 7 table to redefine eligible categories and turnover-based tax rates.
The amendment substitutes the Table in rule 7 of the Central Goods and Services Tax Rules, 2017 to revise the composition levy framework by enumerating categories of registered persons (manufacturers with specified exclusions; suppliers under clause (b) of paragraph 6 of Schedule II; other suppliers eligible under section 10(1) and (2); and persons opting under section 10(2A)) and prescribing discrete turnover-linked tax rates for each category, effective from 1 April 2020.
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